2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
The automotive industry has revised its forecast for car sales upwards this year. Instead of 2.95 million, the industry expects over three million new vehicles. The consumer mood is good.
German car manufacturers' sales are booming. In the first five months of this year, according to the Central Association of the German Motor Vehicle Industry (ZDK), 3.6 percent more new cars were registered than in the same period of the previous year. "It would not be surprising if we write a three before the decimal point for new registrations at the end of the year," said ZDK President Jürgen Karpinski on Thursday in Saarbrücken with a view to the expected total sales in 2015. It will probably be over three million vehicles.
In November, the ZDK had assumed that 2.95 million new cars would be sold in the current year. According to Karpinski, the increased purchasing power due to the drop in the price of oil and the low interest rates are now ensuring the positive consumer sentiment.
New car business determined by trade
According to the ZDK, the new car business will continue to be primarily driven by commercial registrations. Here the number of new registrations grew by 7.1 percent between January and May. In contrast, private individuals registered 2.5 percent fewer cars. The trend among them continued to prefer to get a cheap, young used vehicle (plus 3 percent).
The ZDK demanded higher remuneration from the car manufacturers for warranty repairs, which often did not even cover the costs of the workshops. The association represents around 38,500 car dealerships with around 462,000 employees. In 2014 they achieved a turnover of almost 148 billion euros with sales, maintenance and service. According to figures from the Federal Motor Transport Authority (KBA), 1.305 million vehicles were newly registered in Germany after the first five months of the year, an increase of 3.6 percent compared to the same period in the previous year. In the single month of May, the number of new registrations was 256,385, a decrease of 6.7 percent. (dpa)
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